GroundRules
← Search the law
Kentucky · Snapshot 09/05/2026

KRS 362.2-405: Actions by and against partnership and partners.

Read at publisher ↗
Where this section sits in the code

    (1) To the extent not inconsistent with KRS 362.2 -404, any of the general partners may

    be joined in an action against the limited partnership or named in separate actions.

    (2) A judgment against a limited partnership is not by itself a judgment against a

    general partner. A judgment against a limited partnership may not be satisfied from

    a general partner's assets unless there is also a judgment against the general partner.

    (3) A judgment creditor of a general partner may not levy execution against the assets

    of the general partner to satisfy a judgment based on a claim against the limited

    partnership, unless the partner is personally liable for the claim under KRS 362.2 -

    404 and:

    (a) A judgment based on the same claim has been obtained against the limited

    partnership and a writ of execution on the judgment has been returned

    unsatisfied in whole or in part;

    (b) The limited partnership is a debtor in bankruptcy;

    (c) The general partner has agreed that the creditor need not exhaust limited

    partnership assets;

    (d) A court grants permission to the judgment creditor to levy execution against

    the assets of a general partner based on a finding that limited partnership

    assets subject to execution are clearly insufficient to satisfy the judgment, that

    exhaustion of limited partnership assets is excessively burdensome, or that the

    grant of permission is an appropriate exercise of the court's equitable powers;

    or

    (e) Liability is imposed on the general partner by law or contract independent of

    the existence of the limited partnership.

    Collected 2026-09-05T20:58:58Z. Source file · JSON

    Browse this collection